Arlington, Va. - Consumer confidence in the overall economy and in technology spending both improved in November to the highest points of the year, according to the latest figures released today by the
For the fourth straight month, the CEA Index of Consumer Expectations (ICE) improved in November. The ICE, which measures consumer expectations about the broader economy, rose six points to 173.1, reportedly reaching the highest level since October 2009. The ICE is also up nearly eight points from this time last year, CEA said.
"Consumers are beginning to feel less pessimistic about employment as their overall economic outlook improves," said Shawn DuBravac, CEA chief economist and research director. "While the labor market remains depressed, consumer sentiment is rising."
The CEA Index of Consumer Technology Expectations (ICTE) also improved to its highest point since December 2009. The ICTE, which measures consumer expectations about technology spending, increased nearly seven points this month to 86.1. The ICTE, however, remains down from the same time as last year.
"Expectations to spend more on technology are up in November as consumers begin their holiday shopping," said DuBravac. "Consumers remain cautious, however, as they continue to guard discretionary spending closely."
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys.